It was therefore most appropriate for Modi to have wooed Indian diaspora at Silicon Valley to invest in India, which had tremendous strength in services sector particularly in Information Technology. Silicon Valley is home for start ups, which are fast catching up in India. So Modi struck a right chord this time around in United States as he met Wall Street bigwigs, Fortune 500 companies and Silicon Valley CEOs.

Ease of doing business is one thing the entire business community there wanted. India is a difficult place to do business. Procedural hurdles, corruption and poor delivery are some of the concerns that the US Inc raised during their meeting with Modi. Several CEOs also highlighted the need for consistent and predictable tax regime. The retrospective tax amendment a few years ago had put India on bad light and made several foreign companies lose confidence in India in spite of sound legal system and vibrant democracy and language advantage. The Modi government has done some damage control but the slow process of rectifying them has become irksome. While Modi government has announced with fanfare major initiatives like Make in India, Skill India and Digital India, not much has happened on the ground making foreign investors a little wary about India.

Modi used the opportunity of his visit to assuage US investors and Indian diaspora what he has been able to achieve in simplifying rules, which is work in progress and his efforts to end the rampant corruption. Modi was asked a pertinent question by the Indian diaspora that how much of so many made in the run up to the general elections in 2014 that catapulted him to the thrown and the promises made at his Madison squire address in US exactly a year ago. Quick witted Modi took no time to respond and got some political mileage saying that in India it takes no time to level allegations against politicians occupying key posts. Allegations like politician made several hundred crores of rupees, his son and daughter made a few hundred more and son-in law a little more, he said apparently pointing fingers at the number one family of his rival Congress party. Now you tell me, he told the audience, have you heard any such allegations against me during the last 15 months against me, he asked and then went on to say how systemic changes that he has brought about in the dole out of cooking gas subsidy. He said direct benefit transfer system of depositing the subsidy directly into the bank of account of the beneficiary has helped government eliminate 6 crore bogus cooking gas connections, thereby bringing about annual saving of Rs 19,000 crore subsidy. This was to amplify that it was enough being honest at the top is just not enough that it has percolate down through systemic change using technology. That is precisely what the government has done in the last 12-15 months to restore confidence in India.

Prime Minister Modi however admitted the changes cannot happen overnight and cited a example to elaborate. He said if one is driving a scooter, it is easy to stop and turnaround quickly. If one is an engine driver of a goods train with 40 bogies then it cannot stop abruptly and turnaround. Like a goods train India is a vast country with huge problems. His government is bringing about the necessary changes in governance in particular and this is visible already but it would be sometime before all the ills of the economy are rectified.

Modi's visit to Facebook headquarters at San Jose clearly showcased his social media skills and vision for Digital India. The immediate takeaway from his visit to Silicon Valley is that Microsoft CEO Satya Nadella said his company will take low cost broadband technology to some five lakh villages across India. Google CEO Sundar Pichai promised bring about WIFI connectivity in 500 railway stations in India. Apple CEO Jim Cook expressed his desire to be partner in Digital India. Apple has also promised to manufacture its products in India to take forward Make in India, a pet project of Modi.

Pichai, who was in praise of Modi said Prime Minister as accelerated India's effort to become next global hot bed of innovation and entrepreneurship. He also praised the presence of “hungry” entrepreneurs, the same kind one would like in Silicon Valley. “The presence of that, motivation and Indians coming online at an unprecedented scale, was very clear to me that this one time in a life opportunity,” Pichai said.

There are now over 3000 startups in India and it included companies like Flipkart, Hike, Zomato, Snapdeal and so on. It would have been better if only Modi had cleared the air on the issue of opening up multi-brand retail in India to FDI. Petty traders are BJP's constituency and though Modi government does not want to reverse this UPA policy, It is at the same time dragging its feet on this reform issue.

With strong economic fundamentals, India is the only major economy in the World that is attractive for investment in view of its large domestic market, abundant cheap labour, growing middle class and a majority of 1.25 billion population below the age of 35 years.

Modi did refer to his pet subject of skill development and government efforts to push it hard. Without rapid reform of the education system to produce employable graduates, the demographic dividend could fast turn out to be ticking time bomb. It is time Indian government stepped up spending in health and education manifold and raise above petty politics to make Indian education practical and teach skills that is needed in industry and elsewhere so that they become employable right after they come of institutes of learning.. This is one area, India has a lot to learn from advanced countries. Even in countries like China and South Korea, the people were provided first proper education so that they became useful to the society when they opened up went whole hog on the path of economic development and industrialisation.

Overall the Modi's visit to United States has produced tangible results on the economic front but it also opened up the need to push reforms vigorously take the economy to high and sustainable growth path. (IPA Service)